Self-catering business owners in the UK charge an average 63% of their weekly price for a one-night stay, 75% for four nights and 86% for five nights:
So, if your guests are willing to pay that much for a short break, does this mean your weekly prices are too cheap?
How often do you analyse and update your prices? The average length of time since SuperControl customers last updated their prices is 135 days.
Over the past 135 days, much has changed that could affect your business – and your prices. One of the benefits of SuperControl is that it provides you with the tools to react quickly to these changes, and we’d urge you to do this.
It’s really simple to get started.
Step 1: Research
Research your local area, what’s going on when. What festivals/concerts/Christmas markets etc are there? What’s happening that will drive demand for holiday accommodation and push up prices?
Step 2: Plan ahead
Look as far ahead as you can when you’re doing your research. We’re in November now but you should look ahead to at least this time next year.
Step 3: React
Things always change. You could experience anything from a last-minute cancellation to an unexpected dip in occupancy or a surge in enquiries – SuperControl has an easy solution. Add a special offer to your website, send a voucher to previous guests or simply log in and alter your prices at any time.
What’s in store?
Many factors can affect how you run your business. Consider the Brexit vote (140 days ago at the time of writing) and now President-elect Trump – whatever your political leanings, the fallout from both these votes has left massive uncertainty across many sectors, the holiday rental industry included. How has your business been affected? Are you feeling positive about the future? We’d love to find out, so please send us your feedback.